CVS Ground Lease At 35 West Main St In Norton, MA Sold By Waldman & Associates For $2.35M
35 West Main St
$2,350,000
Building Size
—
Asset Type
Retail
Closing
Apr 27, 2023
AI
A ground lease with CVS as the tenant at 35 West Main St. in Norton, MA has been sold for $2.35 million. The property, representing a retail asset type, is located in the Norton market. The sale was made after CVS extended its ground lease through January 2041. Waldman & Associates, represented by Dan Waldman, facilitated the transaction.
Summary of transaction details
- Property Type: Retail
- Sale Price: $2,350,000
- Address: 35 West Main St, Norton, MA
- Market: Norton, MA
- BROKER: Dan Waldman - Waldman & Associates
The property at 35 West Main St. in Norton, MA, was sold in a ground lease deal with CVS as the tenant for $2.35 million, achieving a 4.7 cap rate. The property has been on and off the market over the years, and this sale was made possible by CVS's extension of the ground lease through January 2041.
Grimsby Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
6.75%
Cash-on-Cash
-1.93%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93